Quantitative Methods - Quantitative Methods Section 2
- Option : B
- Explanation : Use the multiplication rule of counting to determine the total number of ways the three tasks can be done. Total number of ways = 6 * 2 * 2 = 24.
- Option : A
- Explanation : The sum of the probabilities g(y) over all values of Y equals 1. The probability g(y) is a number between 0 and 1.
- Option : B
- Explanation : First order the values from smallest to largest. Then note that three of the twelve values are between -3.0 and 1.0. Thus, the probability of a draw from the distribution being between -3.0 and 1.0 is 3/12 = 0.25.
- Option : A
- Explanation : The probability of the dice landing on its edge is 2/50 = 0.04. Since the dice is biased, the probability of showing up any number won’t be 1/6. It has been stated that the probability of showing any number is equal, i.e. = 0.16. The distribution is as follows:
Outcome Probabilities Prizes Expected
ValueEdge 0.04 $10 0.4 1 0.16 $1 0.16 2 0.16 $2 0.32 3 0.16 $3 0.48 4 0.16 $4 0.64 5 0.16 $5 0.80 6 0.16 $6 0.96 3.76
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